WPP: stock down after Q3 trading update

(CercleFinance.com) - The WPP stock is down over 3% in London following its Q3 trading update, which detailed revenues (excluding pass-through costs) that are down 11.
9% at 2.4 billion pounds (-7.6% on a comparable basis).

However, the British company announced a continued sound momentum in new business, and says that it is on track to reach the upper end of its target range for cost savings of 700-800 million pounds.

For FY 2020, WPP says that it expects sales growth (excluding pass-through costs) and a reported operating margin expected "within the range of latest analysts' expectations".


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